Elastic Supply

Business, Legal & Accounting Glossary

Definition: Elastic Supply


Elastic Supply


Full Definition of Elastic Supply


The characteristic of a good or service for which the supply may increase or decrease as needed to match changes in demand. Goods or services whose supply is elastic do not depend on scarce resources for production or fulfillment, and therefore will not see price changes as drastic as those produced by changes in demand for a limited resource.


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Elastic Supply. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
March 29, 2024 https://payrollheaven.com/define/elastic-supply/.
Chicago Manual of Style (CMS):
Elastic Supply. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/elastic-supply/ (accessed: March 29, 2024).
American Psychological Association (APA):
Elastic Supply. PayrollHeaven.com. Retrieved March 29, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/elastic-supply/

Definition Sources


Definitions for Elastic Supply are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.